Hilltop Holdings Inc. Has $1.59 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Hilltop Holdings Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 264.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,073 shares of the industrial products company's stock after buying an additional 4,405 shares during the quarter. Hilltop Holdings Inc.'s holdings in Illinois Tool Works were worth $1,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in shares of Illinois Tool Works in the third quarter worth about $1,179,000. Daiwa Securities Group Inc. grew its holdings in Illinois Tool Works by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company's stock worth $9,680,000 after acquiring an additional 3,903 shares during the period. Handelsbanken Fonder AB grew its holdings in Illinois Tool Works by 7.3% during the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company's stock worth $37,999,000 after acquiring an additional 9,825 shares during the period. BDF Gestion acquired a new stake in Illinois Tool Works during the second quarter worth about $1,727,000. Finally, NewEdge Advisors LLC grew its holdings in Illinois Tool Works by 7.8% in the second quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company's stock valued at $41,686,000 after purchasing an additional 12,804 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.0 %

Shares of Illinois Tool Works stock traded down $0.06 during trading hours on Wednesday, hitting $275.94. 903,094 shares of the company's stock traded hands, compared to its average volume of 1,045,872. The stock has a 50 day simple moving average of $265.50 and a 200-day simple moving average of $251.33. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company has a market cap of $81.48 billion, a PE ratio of 23.87, a PEG ratio of 4.32 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works's quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ITW. Wells Fargo & Company raised their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an "underweight" rating in a report on Monday, October 7th. Evercore ISI lowered Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Truist Financial lifted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Barclays lifted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an "underweight" rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $257.30.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.